MML Investors Services LLC Has $191,000 Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Posted by MarketBeat News on Mar 13th, 2023

MML Investors Services LLC boosted its position in Exelixis, Inc. (NASDAQ:EXEL – Get Rating) by 19.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,204 shares of the biotechnology company’s stock after purchasing an additional 1,990 shares during the period. MML Investors Services LLC’s holdings in Exelixis were worth $191,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Deutsche Bank AG lifted its position in Exelixis by 439.6% during the second quarter. Deutsche Bank AG now owns 3,518,722 shares of the biotechnology company’s stock worth $73,260,000 after acquiring an additional 2,866,622 shares during the last quarter. Prudential Financial Inc. lifted its position in Exelixis by 368.9% during the second quarter. Prudential Financial Inc. now owns 2,498,377 shares of the biotechnology company’s stock worth $52,015,000 after acquiring an additional 1,965,534 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Exelixis during the third quarter worth approximately $27,393,000. State Street Corp lifted its position in Exelixis by 10.7% during the second quarter. State Street Corp now owns 12,596,380 shares of the biotechnology company’s stock worth $262,257,000 after acquiring an additional 1,219,174 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Exelixis by 34.4% during the second quarter. Goldman Sachs Group Inc. now owns 4,366,821 shares of the biotechnology company’s stock worth $90,917,000 after acquiring an additional 1,116,580 shares during the last quarter. 84.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Exelixis

In other news, EVP Peter Lamb sold 20,000 shares of Exelixis stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $15.88, for a total transaction of $317,600.00. Following the transaction, the executive vice president now owns 410,958 shares in the company, valued at $6,526,013.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Peter Lamb sold 20,000 shares of Exelixis stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $15.88, for a total transaction of $317,600.00. Following the transaction, the executive vice president now owns 410,958 shares in the company, valued at $6,526,013.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 77,860 shares of Exelixis stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $17.13, for a total transaction of $1,333,741.80. Following the transaction, the executive vice president now owns 527,716 shares in the company, valued at approximately $9,039,775.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,870 shares of company stock worth $3,496,567. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

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EXEL has been the subject of several research reports. JMP Securities cut their price objective on shares of Exelixis from $25.00 to $24.00 and set a “market outperform” rating for the company in a research report on Thursday, January 19th. EF Hutton Acquisition Co. I reaffirmed a “buy” rating and set a $24.00 target price on shares of Exelixis in a report on Friday, March 3rd. Truist Financial lowered their target price on shares of Exelixis from $35.00 to $32.00 in a report on Friday, December 9th. Piper Sandler reaffirmed an “overweight” rating and set a $32.00 target price on shares of Exelixis in a report on Wednesday, February 8th. Finally, Credit Suisse Group assumed coverage on shares of Exelixis in a report on Thursday, January 26th. They set an “outperform” rating and a $29.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.00.

Exelixis Price Performance

Shares of Exelixis stock opened at $16.68 on Monday. Exelixis, Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $23.40. The firm has a market capitalization of $5.41 billion, a P/E ratio of 29.26, a P/E/G ratio of 0.67 and a beta of 0.69. The company’s 50 day moving average price is $17.12 and its two-hundred day moving average price is $16.77.

Exelixis (NASDAQ:EXEL – Get Rating) last issued its earnings results on Tuesday, February 7th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). Exelixis had a net margin of 11.31% and a return on equity of 7.54%. The company had revenue of $423.92 million during the quarter, compared to analyst estimates of $418.71 million. During the same quarter in the prior year, the business earned $0.29 EPS. The business’s quarterly revenue was down 6.0% on a year-over-year basis. On average, analysts expect that Exelixis, Inc. will post 0.67 earnings per share for the current year.

About Exelixis

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Exelixis, Inc operates as an oncology company, which focuses on discovering, developing, and commercialization of new medicines for difficult-to-treat cancers. Its products include cabometyx, cometriq, and cotellic. The company was founded by Stelios Papadopoulos on November 15, 1994, and is headquartered in Alameda, CA.